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TREMONT ANNOUNCES FIRST QUARTER 1993 RESULTS

 DENVER, April 26 /PRNewswire/ -- Tremont Corp. (NYSE: TRE) reported a net loss for the first quarter of 1993 of $5.1 million, or $.69 per share, on net sales of $44.1 million, compared to a net loss of $38.3 million, or $5.21 per share, on net sales of $35.9 million for the first quarter of 1992. Tremont's 1992 first quarter results include a previously reported one-time charge of $31.9 million, or $4.34 per share, resulting from adoption of new accounting standards related to postretirement benefits other than pensions and income taxes effective Jan. 1, 1992.
 Titanium metals sales revenue increased 22 percent to $39.6 million, for the first quarter of 1993. Sales volume in the first quarter of 1993 increased 26 percent, compared to pounds shipped in 1992, while changes in product mix were slightly unfavorable and average selling prices were unchanged. The titanium metals segment reported a $1.6 million operating loss in the first quarter of 1993, compared to a $3.8 million loss for the same period in 1992. Overall market demand for titanium products used in the military and commercial aerospace industries and certain other industrial markets remains at depressed levels. The titanium metals business continues to be adversely affected by recessionary economic conditions, excess capacity, adverse selling price pressures and reductions in both military aircraft and commercial airline industry spending.
 Bentonite mining 1993 sales improved because of increased shipments to foundry and export markets, while inclement weather adversely affected both production and operating income.
 The company's first quarter results include a loss attributable to its equity interest in NL Industries Inc., of $3.3 million in 1993, and $2.1 million in 1992. NL's results have continued to deteriorate, and the company expects to report a loss for calendar year 1993 related to its equity interest in NL.
 The company's income tax benefit varies from the U.S. statutory rate of 34 percent due principally to losses for which no benefit is currently available.
 Tremont Corp., headquartered in Denver, is a leading integrated producer of titanium metal products and is also engaged in bentonite mining operations. Tremont's common stock is traded on the New York and Pacific Stock Exchanges under the symbol "TRE."
 TREMONT CORP.
 Summary of Consolidated Operations
 (In millions, except per share data)
 (Unaudited)
 Quarter Ended
 March 31,
 1992 1993
 Net sales:
 Titanium metals $32.5 $39.6
 Bentonite mining 3.4 4.5
 Total $35.9 $44.1
 Operating income (loss):
 Titanium metals ($3.8) ($1.6)
 Bentonite mining .4 .2
 Total (3.4) (1.4)
 Equity in loss of NL Industries (2.1) (3.3)
 General corporate items, net (.9) (.4)
 Interest expense (.8) (.7)
 Loss before income taxes (7.2) (5.8)
 Income tax benefit .8 .7
 Loss before cumulative effect of changes
 in accounting principles (6.4) (5.1)
 Cumulative effect of changes in
 accounting principles (31.9) ---
 Net loss ($38.3) ($5.1)
 Loss per common share:
 Before cumulative effect of changes
 in accounting principles ($.87) ($.69)
 Cumulative effect of changes in
 accounting principles (4.34) ---
 Net loss ($5.21) ($.69)
 Weighted average common shares 7.3 7.4
 -0- 4/26/93
 /CONTACT: Mark A. Wallace, VP and controller of Tremont, 303-296-5651/
 (TRE)


CO: Tremont Corp. ST: Colorado IN: MNG SU: ERN

JL-JB -- DV009 -- 1050 04/26/93 18:51 EDT
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Date:Apr 26, 1993
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